Sotheby’s scraps buyer’s premium on online-only auctions

As online sales emerge as the new auction battleground, Sothebys has scrapped buyers premium on all its online-only auctions.It is a bold statement of intent. The auction house introduced online-only sales just last year, but David Goodman, Sothebys executive vice president of digital development and marketing, says that they are its best tool for attracting first time buyers. In the first half of 2017, 45% of buyers in online-only sales were new to Sothebys and around 20% have gone on to parti